malaysia must learn from singapore
malaysia has a lot of land and landed properties. and the rich have invested their savings in many properties. there is a huge temptation to jack up the prices of properties so that they can reap a huge profit from their investments, like in singapore, where a flat can cost half a million to several millions. even govt built flats can reach more than half a million on a 99 year lease. malaysia must curb this desire to push up the price of housing and ended up with high housing cost. once done it cannot be unwind without very nasty consequences. by keeping housing cheap, car cheap, and essential services cheap, it can keep the cost of living low. this will mean that it does not need to raise the cost of its labour and can remain compeititive in the international labour market. with a lower cost of living, there will also be lesser pressure on the people to demand for bigger pay packet. unlike in singapore, without a big pay packet there are just not enough to lead a decent lifestyle. but keeping a high pay packet, which is very necessary given the high cost of everything, it becomes uncompetitive. when the time comes for downgrading, many will suffer. malaysia must learn and not to repeat such a mistake at a national scale. it is very nice to hear of owning a multi million property. but it is a vicious circle and more is needed to keep up with that kind of price. at the end of it, it will price itself out of the market. the material worth of a person is not the dollars that he earns but how much can the dollar buys.